Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash $ 12,857 $ 30,435
Accounts receivable, net of allowance of $1,285 and $1,084 at December 31, 2021 and 2020, respectively 14,690 6,330
Inventories, net 66,982 36,064
Vendor deposits 18,475 11,289
Assets held for sale 75 1,073
Other current assets (Note 8) 11,658 10,892
Total current assets 124,737 96,083
Property and equipment, net 20,851 12,201
Intangible assets, net 84,710 5,945
Goodwill 41,860 3,280
Operating lease right-of-use assets 9,128 3,104
Other assets 4,541 2,037
Total assets 285,827 122,650
Current liabilities    
Accounts payable 23,041 18,405
Accrued expenses and other current liabilities (Note 8) 25,128 19,390
Customer deposits 7,924 2,729
Current portion of notes payable, including $8,000 owed to related party 11,615 182
Current portion of operating leases 3,091 966
Current portion of finance leases 169 184
Total current liabilities 70,968 41,856
Notes payable, less current portion and debt issuance costs, net 10,607 7,844
Operating leases, less current portion 6,142 2,524
Finance leases, less current portion 72 205
Other liabilities 1,674 964
Total long-term liabilities 18,495 11,537
Total liabilities 89,463 53,393
Commitments and contingencies (Note 7)
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.0001 par value, 10,000 shares authorized, none issued and outstanding 0 0
Additional paid-in capital 228,894 39,742
Accumulated deficit (55,544) (24,848)
Accumulated other comprehensive income (loss) 324 29
Total stockholders’ equity attributable to Greenlane Holdings, Inc. 174,528 15,065
Non-controlling interest 21,836 54,192
Total stockholders’ equity 196,364 69,257
Total liabilities and stockholders’ equity 285,827 122,650
Common Class A    
STOCKHOLDERS’ EQUITY    
Common stock 852 133
Common Class B    
STOCKHOLDERS’ EQUITY    
Common stock 2 1
Common Class C    
STOCKHOLDERS’ EQUITY    
Common stock $ 0 $ 8